United Kingdom GDP Annual Growth Rate 1956-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United Kingdom expanded 3 percent in the fourth quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom averaged 2.45 percent from 1956 until 2014, reaching an all time high of 9.80 percent in the first quarter of 1973 and a record low of -5.80 percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

     Forecast  
United Kingdom GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
3.00 2.80 9.80 -5.80 1956 - 2014 percent Quarterly
From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. This page provides - United Kingdom GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United Kingdom GDP Annual Growth Rate - was last refreshed on Sunday, April 26, 2015.


UK Economy Expands 2.8% in 2014


The British GDP advanced 3 percent year-on-year in the last quarter of 2014, up from a 2.7 percent preliminary estimate as net trade contributed positively to the growth and the services sector continued to power the economy.

Year-on-year, total exports surged 5.6 percent, rebounding from a 0.5 percent drop in the previous period. Imports grew 3 percent  compared to 0.1 percent contraction reported in Q3. 

Household consumption rose at a faster 3 percent (2.8 percent in Q3). Government consumption and gross fixed capital formation growth decelerated to 2.1 percent and 5.1 percent respectively (2.3 percent and 8.2 percent respectively in the previous quarter).

In 2014, the economy grew 2.8 percent, up 0.2 percent from the previous estimate. Investment recorded the highest increase (7.8 percent), followed by household expenditure (2.5 percent). Exports rose a meager 0.6 percent while imports increased 2.2 percent. Government spending advanced 1.7 percent.


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
3/31/2015 12:31:56 PM


Recent Releases

UK GDP Growth Confirmed at 7-Year High
The British economy advanced 2.7 percent year-on-year in the last quarter of 2014, unchanged from the preliminary estimate. It is the highest growth rate since the last three months of 2007, driven by rise in consumption, investment and net trade. Published on 2015-02-26

UK GDP Growth at 7-Year High
British GDP advanced 2.7 percent year-on-year in the last quarter of 2014, up from a 2.6 percent increase in the previous period and the highest since 2007. Published on 2015-01-27


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-01-27 09:30 AM
GDP Growth Rate YoY Prel  Q4
2.7% 2.6% 2.8% 2.91%
2015-02-26 09:30 AM
GDP Growth Rate YoY 2 Est  Q4
2.7% 2.6% 2.7% 2.7%
2015-03-31 09:30 AM
GDP Growth Rate YoY Final  Q4
3.0% 2.8% (R) 2.7% 2.7%
2015-04-28 09:30 AM
GDP Growth Rate YoY Prel  Q1
3.0% 2.6% 2.82%
2015-05-28 09:30 AM
GDP Growth Rate YoY - 2 Est  Q1
3.0%
2015-06-30 09:30 AM
GDP Growth Rate YoY Final  Q1
3.0%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.60 0.60 5.00 -2.70 percent [+]
GDP Annual Growth Rate 3.00 2.80 9.80 -5.80 percent [+]
GDP Constant Prices 429673.00 426382.00 429673.00 102335.00 GBP Million [+]
Gross National Product 442160.00 438319.00 442160.00 4776.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 73618.00 73016.00 75836.00 13015.00 GBP Million [+]
GDP per capita PPP 35013.27 34657.81 37112.75 23542.10 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Nov/14 -0.60 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.00 Feb/15 7.30 14.20 3.80 percent [+]
Euro Area 0.90 Nov/14 0.80 5.00 -5.50 percent [+]
France 0.24 Nov/14 0.41 12.50 -3.92 percent [+]
Germany 1.60 Nov/14 1.20 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 5.01 Nov/14 4.92 7.16 1.56 percent [+]
Italy -0.50 Nov/14 -0.50 10.30 -6.90 percent [+]
Japan -0.80 Nov/14 -1.40 9.40 -9.40 percent [+]
Mexico 2.60 Nov/14 2.20 8.50 -8.10 percent [+]
Netherlands 1.40 Nov/14 1.00 5.80 -4.40 percent [+]
Russia 0.40 Nov/14 0.90 12.10 -11.20 percent [+]
South Korea 2.40 Feb/15 2.70 18.20 -7.30 percent [+]
Spain 2.00 Nov/14 1.60 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 2.60 Nov/14 1.90 12.60 -14.70 percent [+]
United Kingdom 3.00 Nov/14 2.80 9.80 -5.80 percent [+]
United States 2.40 Nov/14 2.70 13.40 -4.10 percent [+]